Cost of Living Comparison Between Iceland and China Cost of Living Comparison Between Iceland and China

Name: China
Address: CN

Monthly Cost of Living

Monthly costs for one person with rent: $1,713 in Iceland versus $712 in China.

Estimated couple costs with rent: $2,544 in Iceland versus $1,131 in China.

Monthly costs for a family of three with rent: $3,375 in Iceland versus $1,550 in China.

Living in Iceland is roughly 141% more expensive than in China on average.

Iceland (28% above) and China (47% below) straddle the global median.

Meal at Budget Restaurant

$26.73 ISK 3,331

$2.86 ¥19.35

834.62%

Three-Course Dinner for Two, Mid-Range

$129 ISK 16.1K

$23.44 ¥159

451.66%

Fast Food Meal (McDonalds, etc)

$19.72 ISK 2,457

$4.84 ¥32.75

307.44%

Cappuccino

$6.00 ISK 748

$3.11 ¥21.06

92.93%

Coke/Pepsi/Fanta/Sprite (0.33 liter bottle)

$3.30 ISK 412

$0.44 ¥3.00

650.00%

Water (0.33 liter bottle)

$2.64 ISK 329

$0.29 ¥1.99

810.34%

Local Beer (0.5 liter draught)

$12.00 ISK 1,495

$0.98 ¥6.64

1124.49%

Imported Beer (0.33 liter bottle)

$10.46 ISK 1,304

$2.05 ¥13.88

410.24%

Milk (1 liter)

$1.96 ISK 244

$1.84 ¥12.47

6.52%

White Bread (500g)

$4.14 ISK 516

$1.62 ¥10.94

155.56%

Rice (white) (1kg)

$3.48 ISK 434

$0.93 ¥6.28

274.19%

Eggs

$6.59 ISK 821

$1.63 ¥11.03

304.29%

Local Cheese (1kg)

$18.61 ISK 2,319

$13.15 ¥89.0

41.52%

Chicken Fillets (1kg)

$24.58 ISK 3,063

$3.26 ¥22.09

653.99%

Beef Round Steak (1kg)

$43.45 ISK 5,414

$10.62 ¥71.9

309.13%

Apples (1kg)

$3.02 ISK 377

$1.80 ¥12.19

67.78%

Banana (1kg)

$2.48 ISK 309

$1.30 ¥8.77

90.77%

Oranges (1kg)

$2.87 ISK 358

$1.46 ¥9.90

96.58%

Tomato (1kg)

$4.93 ISK 614

$1.20 ¥8.15

310.83%

Potato (1kg)

$3.61 ISK 449

$0.76 ¥5.14

375.00%

Onion (1kg)

$2.21 ISK 276

$0.88 ¥5.93

151.14%

Lettuce (1 head)

$3.16 ISK 393

$0.57 ¥3.86

454.39%

Water (1.5 liter bottle)

$2.21 ISK 275

$0.54 ¥3.63

309.26%

Cigarettes 20 Pack (Marlboro, Camel)

$14.04 ISK 1,749

$3.42 ¥23.17

310.53%

Wine (Bottle)

$21.88 ISK 2,726

$11.75 ¥79.5

86.21%

Local Beer (0.5 liter bottle)

$3.78 ISK 470

$0.80 ¥5.40

372.50%

Imported Beer (0.33 liter bottle)

$3.05 ISK 379

$1.62 ¥10.95

88.27%

One-way Ticket (Public Transport)

$5.37 ISK 669

$0.43 ¥2.94

1148.84%

Public Transport Monthly Pass (Regular Price)

$84.5 ISK 10.5K

$20.47 ¥139

312.95%

Taxi Start (Normal Tariff)

$6.28 ISK 782

$1.36 ¥9.24

361.76%

Taxi (Normal Tariff) (1km)

$2.25 ISK 281

$0.35 ¥2.39

542.86%

Taxi 1hour Waiting (Normal Tariff)

$86.0 ISK 10.7K

$6.50 ¥43.97

1222.62%

Gasoline (1 liter)

$2.53 ISK 315

$1.12 ¥7.59

125.89%

Midsize Hatchback 1.4l (Volkswagen Golf, Toyota Prius, Honda Civic, etc)

$47.5K ISK 5.9M

$19.5K ¥131.8K

143.71%

Compact Sedan 1.6l (Toyota Corolla, Mazda3, Kia K4, Hyundai Elantra, etc)

$53.4K ISK 6.7M

$16.9K ¥114.1K

216.57%

Utilities for 2 People in 2-bedroom Apartment (Heating, Electricity, Gas, Water, Garbage) (85m2)

$89.9 ISK 11.2K

$51.7 ¥350

73.89%

SIM Card Monthly Plan (Calls and 10GB+ Data)

$27.33 ISK 3,406

$10.17 ¥68.8

168.73%

Internet (50+ Mbps, Unlimited Data)

$86.2 ISK 10.7K

$11.16 ¥75.5

672.22%

Gym Membership (Monthly)

$81.5 ISK 10.2K

$39.62 ¥268

105.81%

Tennis Court (1 Hour on Weekend)

$37.90 ISK 4,723

$14.53 ¥98.3

160.84%

Cinema Ticket

$17.71 ISK 2,207

$6.38 ¥43.19

177.59%

Preschool or Kindergarten, Full Day, Private, 1 Child (Monthly)

$345 ISK 43.0K

$407 ¥2,756

-15.22%

International Primary School, 1 Child (Yearly)

$30.3K ISK 3.8M

$17.8K ¥120.7K

70.04%

Jeans (Levis 501 Or Similar)

$140 ISK 17.4K

$45.53 ¥308

207.16%

Summer Dress (H&M, Zara, etc)

$64.7 ISK 8,064

$32.31 ¥219

100.31%

Sport Shoes (Adidas, Nike)

$172 ISK 21.5K

$72.6 ¥491

137.57%

Men's Leather Business Shoes

$251 ISK 31.3K

$74.4 ¥504

237.66%

1-bedroom Apartment, City Center (Monthly)

$2,180 ISK 271.6K

$443 ¥2,996

392.35%

1-bedroom Apartment, Outside City Center (Monthly)

$2,031 ISK 253.1K

$258 ¥1,747

686.65%

3-bedroom Apartment, City Center (Monthly)

$3,177 ISK 395.8K

$910 ¥6,162

248.92%

3-bedroom Apartment, Outside City Center (Monthly)

$2,700 ISK 336.4K

$543 ¥3,677

396.86%

Buy Apartment in City Center (m2)

$7,642 ISK 952.2K

$4,934 ¥33.4K

54.88%

Buy Apartment Outside City Center (m2)

$6,054 ISK 754.3K

$2,398 ¥16.2K

152.43%

Average Monthly Net Salary (After Tax)

$4,559 ISK 568.0K

$1,065 ¥7,205

328.19%

20-Year Fixed Mortgage Interest Rate (Annual %)

9.88

4.06

143.35%

CityCost data is based on AI and user input – minor inaccuracies may occur.

Last update for Iceland: July 11, 2026

Last update for China: July 13, 2026

Cost Breakdown

National rent averages: $531 in Iceland, $287 in China. Capital cities: $2,254 in Reykjavik vs $894 in Beijing (Pekin).

National salary averages: $4,859 in Iceland, $855 in China. Higher pay doesn't always mean more spending money – weigh income against local costs.

Cost Highlights

Rent is 85% higher in Iceland.

Dining out costs 300% more in Iceland.

Salaries are 468% higher in Iceland, and purchasing power comes out stronger in Iceland.

City Median Internet Speeds Comparison (Updated April 2026)

The chart highlights the Precision Threshold for mobile and fixed broadband internet speeds, updated quarterly.

Digital Nomad Cost of Living Index

Iceland vs China: Cost of Living - Frequently Asked Questions

At $862 per month in China and $1,935 in Iceland, there's a 124% gap. Keep in mind it varies by city – the difference can be bigger or smaller depending on where you settle within each country.

Day-to-day life is simply cheaper in China: lower food prices, cheaper commutes, smaller household bills. Over time, those daily savings make a real difference to your monthly budget and ability to put money away.

Rent in Iceland is consistently higher than in China across the board, especially in major cities. Housing is usually the single biggest driver of the overall cost difference between the two countries.

In China, $2,000 covers most cities easily; in Iceland it stretches only to regional areas and falls short in the capital – you'll need to make trade-offs on housing or lifestyle.

It depends on what you're after: China wins on affordability; Iceland may offer higher salaries, better infrastructure, and different cultural perks. Both attract large expat communities for different reasons.